An IT expert filed a whistleblower suit against Autonomy Capital, claiming the investment management firm fired him after he warned the firm — and the Securities and Exchange Commission — about significant defects in its cybersecurity systems.
In the suit, filed Tuesday in U.S. District Court for the Southern District of New York, Nicholas Moniodes claimed that soon after joining Autonomy in 2014, he realized that the company had “massive holes in its cybersecurity systems, violating both” the SEC’s rules and industry best practices.
Also named in the suit as defendants were Autonomy’s two top executives: Robert Gibbins, its partner, founder and chief investment officer; and Ivan Ritossa, its CEO.
Autonomy Capital, based in Jersey in the Channel Islands, has about $8 billion in assets under management in pooled investment vehicles, largely for clients outside the U.S., according to its most recent Form ADV.
In a statement provided to ThinkAdvisor on Wednesday, Autonomy said only: “These are baseless allegations and the firm will defend itself vigorously.”
Moniodes, who previously worked for firms including Morgan Stanley as its Asia chief technology officer and Deutsche Bank as executive director and CTO-Americas, according to his LinkedIn page, claimed in the suit that he specifically “discovered that Autonomy did not have up-to-date Data Loss Protection (“DLP”) software in place to protect its investors’ Producer Price Index (“PPI”) data.”
He “further realized that the Company did not have sufficient Mobile Device Management (“MDM”) DLP protection,” according to the suit.